Intercontinental Exchange Swings to 4Q Net Loss, Key Revenue Number Falls
February 02 2023 - 08:54AM
Dow Jones News
By Will Feuer
Intercontinental Exchange Inc.'s key revenue figure fell in the
fourth quarter, dragged down by a decline at its
mortgage-technology business.
The exchange operator and mortgage-data provider posted a net
loss of $425 million, or 76 cents a share, compared with a profit
of $1.53 billion, or $2.70 a share, in the same period a year
earlier.
Stripping out one-time items, including losses and impairment
from unconsolidated investees, adjusted earnings came to $1.25 a
share. Analysts surveyed by FactSet were expecting adjusted
earnings of $1.26 a share.
Revenue rose to $2.38 billion from $2.33 billion a year ago.
Analysts were expecting revenue of $1.78 billion, according to
FactSet.
Revenue, excluding transaction-based expenses, fell to $1.77
billion from $1.84 billion a year ago.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
February 02, 2023 08:39 ET (13:39 GMT)
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